Budget 2016 ‘ll herald change, says Fed Govt

Minister of Information and Culture Alhaji Lai Mohammed said yesterday that next year’s budget will herald change in the country.

Mohammed spoke at a meeting with the representatives of civil society organisations (CSOs) in Abuja.

“Let me also use this occasion to announce to all Nigerians that better times are just around the corner.

“Nigerians voted for change, and change they will get.

“This government will not give excuses; the painstaking and methodical approach by the administration, its deep analysis and understanding of the challenges and the recent inauguration of the cabinet will herald a new dawn.

“In the next few days, the administration will start firing from all cylinders, starting the unveiling of the 2016 budget.”

The minister said Nigerians would witness meaningful progress in all spheres of governance.

He stated that government would lift millions of Nigerians out of poverty, tame unemployment, ensure development of infrastructure, and restore the country’s lost glory.

“Nigerians will witness measurable and impactful progress in all spheres of governance.

“We shall not abandon our social intervention policies such as the One-meal-a-day For School Children and the payment of N5,000 each to vulnerable Nigerians.

“We are committed to lifting millions of Nigerians out of poverty.

“The administration is also progressing steadily and surely in the fight against terrorism and corruption.

“The Economic Team of the government is burning the midnight oil to ensure that unemployment is tamed, that there will be massive infrastructural development and that the country’s lost glory will be restored.

“We are aware that the question on the lips of many Nigerians is that, with the drastic fall in oil revenues, where will the government get the funds to implement its policies?

“The answer is simple: diversification of the economy, blockage of leakages, as well as exploiting and unwinding our tax base without necessarily raising taxes.

“Talking about taxes, there is no doubt Nigeria can do better than it is doing now.

“A comparative analysis between Nigeria and South Africa will drive the point home.

“In 2013, with a population of 160 million and a Gross Domestic Product (GDP) of 510 billion dollars, Nigeria collected 30 billion dollars in taxes, whereas South Africa, with a population of 54 million and a GDP of 366 billion dollars, collected 74 billion dollars in taxes.

“In 2014, Nigeria with a population of 170 million and GDP of $535 billion, collected $26 billion in taxes, whereas South Africa, with a GDP of $350 billion and population of 54 million, raked in $70 billion.

“From the figures, it is obvious that if only we can widen our tax base, we do not need to raise taxes to increase our tax revenue.”

The Executive Director, Policy and Legal Advocacy Centre, Mr. Clement Nwankwo, who led the CSOs to the meeting, urged the Federal Government to reduce the cost of governance.

“Nigeria is in dire need of reform of its governance process and a lot needs to be done to reduce the cost of governance,” he said.